Civic Intelligence

The Masters Academy

990 • Fiscal year 2024 • EIN 81-1689040

Jul 01, 2023 to Jun 30, 2024 • Filed on Dec 10, 2024

Organization Profile
120 School DrForest City, NC 28043-3680

(828) 229-3172

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

94th percentile

0.90x

Higher debt load relative to assets than 94% of similar nonprofits.

2024 filings • NTEE B • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

65th percentile

0.04x

Higher debt load relative to revenue than 65% of similar nonprofits.

2024 filings • NTEE B • $500k-$1M nonprofits • Source year 2024

Net Margin

32nd percentile

-1.8%

Higher net margin than 32% of similar nonprofits.

2024 filings • NTEE B • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • NTEE B • $500k-$1M nonprofits • Source year 2024

Asset Growth

3rd percentile

-65%

Faster asset growth than 3% of similar nonprofits.

2024 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

30th percentile

-3.0%

Faster revenue growth than 30% of similar nonprofits.

2024 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$41,966

Down $77,774 (-65%) from 2023

Net Assets

Down

$3,988

Down $106,712 (-96%) from 2023

Liabilities

Up

$37,978

Up $28,938 (+320%) from 2023

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin32nd percentile

Revenue

Down

$920,995

Down $28,889 (-3.0%) from 2023

Expenses

Up

$937,615

Up $45,661 (+5.1%) from 2023

Net Income

Down

-$16,620

Down $74,550 (-129%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150K$100K$50K$0-$50KAssets 2023: $119,740Liabilities 2023: $9,040Net Assets 2023: $110,7002023Assets 2024: $41,966Liabilities 2024: $37,978Net Assets 2024: $3,9882024Assets 2025: $40,826Liabilities 2025: $80,684Net Assets 2025: -$39,8582025

Highlighted filing

2024

Assets$41,966
Liabilities$37,978
Net Assets$3,988
Open 2024 Filing

Operations Trend

Revenue Growth30th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2023: $949,884Expenses 2023: $891,954Net Income 2023: $57,9302023Revenue 2024: $920,995Expenses 2024: $937,615Net Income 2024: -$16,6202024Revenue 2025: $745,896Expenses 2025: $738,808Net Income 2025: $7,0882025

Highlighted filing

2024

Revenue$920,995
Expenses$937,615
Net Income-$16,620
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Dec 10, 2024
Return Version
2023v5.1
Gross Receipts
$920,995
Mission and Program Overview

Mission

Nonprofit school providing a forest school, an outdoor school, and a traditional indoor school with a classical curriculum program and extracurriculars.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$95,673$41,966▼ $53,707
Land, Buildings, and Equipment, Net$24,067--
Total Assets$119,740$41,966▼ $77,774
Liabilities
Accounts Payable and Accrued Expenses$9,040$37,978▲ $28,938
Total Liabilities$9,040$37,978▲ $28,938
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$110,700$3,988▼ $106,712
Total Net Assets Fund Balance$110,700$3,988▼ $106,712
Total Liabilities and Net Assets / Fund Balance$119,740$41,966▼ $77,774

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$397,834$397,834
Compensation and Service Providers
Top Officer Pay58th percentile

Board Members and Trustees

NameTitle
Ed SomervilleChairman
Tami Schultz WatersExecutive Director
Rachel KramerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$2,184
Program Service Revenue
$918,637
Investment Income
$174
Other Revenue
$0
All Other Contributions
$2,184
Change in Net Assets
$-16,620
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$775,086
Other Expenses$162,529
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$648,051$72,006-$720,057
Payroll Taxes$49,526$5,503-$55,029
Occupancy$33,421$3,713-$37,134
Depreciation Depletion$24,067--$24,067
Office Expenses$19,859$2,207-$22,066
Information Technology$12,139$1,349-$13,488
Insurance$7,129$792-$7,921
Fees for Services Other$6,112$679-$6,791
Advertising$1,015$113-$1,128
Other Expenses$370$41-$411
Total Functional Expenses$851,212$86,403$0$937,615
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“The governing body of the school reviews the form 990.”

Conflict of interest policy compliance Part VI line 12C

“The school has a conflict of interest policy and reviews and or monitors it regularly.”

CEO executive director top management comp Part VI line 15A

“Salaries and wages are determined by the governing body of the school using historical pay data, comparative data and personal data about the applicant.”

Other officer or key employee compensation Part VI line 15B

“Salaries and wages are determined by the governing body of the school using historical pay data, comparative data and personal data about the applicant.”

Governing documents etc available to public Part VI line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
The Masters Academy
EIN
81-1689040
Address
120 SCHOOL DR, FOREST CITY, NC 28043-3680

Signing Officer

Name
Tami Shultz Waters
Title
Executive Direc
Phone
8282293172
Signed
2024-12-10
Discuss with paid preparer
Yes

Organization Details

Formed
2006
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
35
Volunteers
10

Preparer

Firm
Crystal K Hamrick CPA
Address
124 S BROADWAY ST STE 104, FOREST CITY, NC 28043
Preparer
Crystal K Hamrick CPA
Phone
8282481272
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Continued clean up from software conversion.”

Raw XML Appendix337 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GOVERNING BODY OF THE SCHOOL REVIEWS THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL HAS A CONFLICT OF INTEREST POLICY AND REVIEWS AND OR MONITORS IT REGULARLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARIES AND WAGES ARE DETERMINED BY THE GOVERNING BODY OF THE SCHOOL USING HISTORICAL PAY DATA, COMPARATIVE DATA AND PERSONAL DATA ABOUT THE APPLICANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALARIES AND WAGES ARE DETERMINED BY THE GOVERNING BODY OF THE SCHOOL USING HISTORICAL PAY DATA, COMPARATIVE DATA AND PERSONAL DATA ABOUT THE APPLICANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTINUED CLEAN UP FROM SOFTWARE CONVERSION.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Explanation of other changes in net assets or fund balances Part XI line 9
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIREC
ReturnHeader/BusinessOfficerGrp/PhoneNum08282293172
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-12-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE MASTERS ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0MAST
ReturnHeader/Filer/EIN0811689040
ReturnHeader/Filer/USAddress/AddressLine1Txt0120 SCHOOL DR
ReturnHeader/Filer/USAddress/CityNm0FOREST CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd0280433680
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0562148555
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CRYSTAL K HAMRICK CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0124 S BROADWAY ST STE 104
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FOREST CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028043
ReturnHeader/PreparerPersonGrp/PhoneNum08282481272
ReturnHeader/PreparerPersonGrp/PreparationDt02024-12-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CRYSTAL K HAMRICK CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-12-15T17:45:54-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$41,966
Liabilities
$37,978
Net assets
$3,988
Revenue
$920,995
Expenses
$937,615
Net income
-$16,620
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.41$0.81$0.40$7.46$7.39$0.07
2024Detailed filing. Detailed filing data is available for this year.$0.42$0.38$0.04$9.21$9.38$0.17
2023Detailed filing. Detailed filing data is available for this year.$1.20$0.09$1.11$9.50$8.92$0.58